MINSK, 14 January (BelTA) - The amount of exchange transactions concluded by enterprises of Belarus and Uzbekistan reached $55 million in 2024, which was three times more than in 2023, Director of the Gomel Branch of the Belarusian Universal Commodity Exchange (BUCE) Grigory Ginsar said during a meeting with a delegation from Fergana Region of Uzbekistan, BelTA learned the BUCE press service.
According to Grigory Ginsar, an almost twofold increase in the number of Uzbekistan's traders and involvement of new liquid commodities in mutual trade facilitated the growth of exchange turnover between the countries.
“In January 2024, some 97 companies from Uzbekistan were accredited at the exchange. By the end of 2024, there were already 177 of them. The growing interest in exchange trading is the result of comprehensive communication with Uzbekistan's business community. This includes regular visits to industry exhibitions and other business events, training seminars for Uzbekistan's companies, cooperation with the Embassy of Uzbekistan in Belarus and the Belarusian diplomatic mission in Uzbekistan,” he said.
In comparison with 2023, the range of goods that Uzbekistan's companies buy and sell on the exchange has also expanded. In particular, the sale of Belarusian skim and whole milk powder to Uzbekistan's market started in the middle of 2024. The amount of transactions in August-December of 2024 exceeded $4 million. As far as imports are concerned, last year Uzbekistan actively supplied Belarus with raw materials for the textile industry: cotton carded yarn and unbleached fabric. The amount of transactions in these items went up one and a half times in 2023.
During the talks between the delegation from Fergana Region and Gomel Oblast, the parties discussed the prospects for the exchange trade development. The priority areas include the export of sawn timber, which accounted for 88% of transactions between traders from Belarus and Uzbekistan in 2024. The parties also intend to intensify interaction on the purchase of agricultural products, primarily dairy products and meat semi-finished products.
According to Grigory Ginsar, an almost twofold increase in the number of Uzbekistan's traders and involvement of new liquid commodities in mutual trade facilitated the growth of exchange turnover between the countries.
“In January 2024, some 97 companies from Uzbekistan were accredited at the exchange. By the end of 2024, there were already 177 of them. The growing interest in exchange trading is the result of comprehensive communication with Uzbekistan's business community. This includes regular visits to industry exhibitions and other business events, training seminars for Uzbekistan's companies, cooperation with the Embassy of Uzbekistan in Belarus and the Belarusian diplomatic mission in Uzbekistan,” he said.
In comparison with 2023, the range of goods that Uzbekistan's companies buy and sell on the exchange has also expanded. In particular, the sale of Belarusian skim and whole milk powder to Uzbekistan's market started in the middle of 2024. The amount of transactions in August-December of 2024 exceeded $4 million. As far as imports are concerned, last year Uzbekistan actively supplied Belarus with raw materials for the textile industry: cotton carded yarn and unbleached fabric. The amount of transactions in these items went up one and a half times in 2023.
During the talks between the delegation from Fergana Region and Gomel Oblast, the parties discussed the prospects for the exchange trade development. The priority areas include the export of sawn timber, which accounted for 88% of transactions between traders from Belarus and Uzbekistan in 2024. The parties also intend to intensify interaction on the purchase of agricultural products, primarily dairy products and meat semi-finished products.
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